Investment Funds 2025

CHINA

Law and Practice Contributed by: Alan Du and Yiwei Shi King & Wood Mallesons

Contents 1. Market Overview p.114 1.1 State of the Market p.114 2. Alternative Investment Funds p.115

2.1 Fund Formation p.115 2.2 Fund Investment p.118

2.3 Regulatory Environment p.119 2.4 Operational Requirements p.122

2.5 Fund Finance p.123 2.6 Tax Regime p.124 3. Retail Funds p.125 3.1 Fund Formation p.125 3.2 Fund Investment p.128

3.3 Regulatory Environment p.128 3.4 Operational Requirements p.131

3.5 Fund Finance p.132 3.6 Tax Regime p.132 4. Legal, Regulatory or Tax Changes p.132 4.1 Recent Developments and Proposals for Reform p.132

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